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84O. Sale of Business Tool

(1) The DFSA may apply the Sale of Business Tool to an Authorised Firm by effecting a sale of all or part of the business of the Authorised Firm to one or more purchasers by making:
(a) one or more property transfer instruments for the transfer of all or any rights, assets or liabilities of the Authorised Firm; and
(b) if an Authorised Firm is not a branch, one or more share transfer instruments for the transfer of all or part of the shares of the Authorised Firm.
(2) The DFSA may apply the Sale of Business Tool to an Authorised Firm without:
(a) the consent of the shareholders of the Authorised Firm or any third party other than the purchaser; and
(b) complying with any procedural requirements under the Companies Law or the constitutional documents of the Authorised Firm.
(3) The DFSA may prescribe Rules relating to the application of the Sale of Business Tool.